Tuesday, July 11, 2006 11:01:20 AM
Here is what my question to Scottrade's help desk returned:
"Thank you for your email.
The company that settles trades for PAIM is not settling trades for PAIM
at this time. They are currently in the process of reviewing
shareholder of record dates relating to the recent reorganization.
Until they begin settling trades again, Scottrade will not trade this
security. Unfortunately, at this time, we do not know how long this
might take.
We ask that you contact your local Scottrade office if you have more
questions regarding this matter.
Please let us know if there are other matters with which we may assist."
And the local branch manager of Scottrade informs me that Scottrade has a hold on all buy and sells until such time (an unknown) the transfer agent (DTC I think) begins settling this issue again.
So, does anyone have additional information, and has anyone contacted PAIM's investor relations person/department for a clarification or illumination about this matter? I have yet to understand how it appears that this issue is trading (price yesterday fluctuated between .0001 and .0003) if the transfer agent is not settling trades?
All feedback is greatly appreciated.
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